The work that happens every month, done every day
Covenant monitoring is a calendar with a calculation attached. Agents own the calendar: they chase what is due, read what arrives, recompute what changed, and tell the right person before a number crosses a line. Nothing is approved without a person. Nothing is forgotten either.
Each owns one job on the register
Chase
Knows every deliverable, its due date and its counterparty. Requests it before it is due, chases when it is late, and escalates on a schedule you set. Borrowers reply through a secure link, never email attachments.
Extract
Reads what lands: compliance certificates, financials, NAV notices, amendments. Parser first, model second, validator between. 97.4 percent citation-exact on the first pass.
Test
Recomputes every covenant test that depends on a new figure, across the whole book, inside nine seconds. Flags breach, near-trigger and stale. Never reuses a months-old number silently.
Brief
Writes the morning brief: in breach, stale, underperforming, near breach. Four lists in the order you would ask, each line with the citation behind it.
Escalate
Treats silence as an event. A fund that has not reported, a certificate that has not arrived, a chase with no reply: each moves up the ladder on time, with the history attached.
Review
Routes the fields it doubts to a person: low validator margin, deep definition chain, digits disagreement. Fifteen percent of fields, ninety-nine point seven after the second read.
What the agents did before you sat down
The register is never waiting on a person to press a button. By the time the brief is read, the overnight arrivals are extracted, tested and, where they need it, queued for a second read.
- Every action is logged with who, when and what changed.
- Every proposal waits for a person: chase emails, escalations, limit changes.
- Every flag opens to the clause and the page.
AI collects, extracts, calculates and flags. People decide.
No agent approves a waiver, changes a limit or sends an escalation on its own. Each proposes, with the evidence, and a named person approves. That is what makes the log an audit trail rather than a diary. The reasoning is in AI + Human Analysis.
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